Friday afternoon, a Danish defense agreement for the years 2013-2017 was reached. Read statement from Terma CEO Jens Maaløe.

The new Danish defense agreement is supported by the Government, The Danish People's Party, The Liberal Party, The Liberal Alliance and The Conservative Party.

Jens Maaløe, CEO & President of Terma A/S, states:

"We are pleased to see the outcome of the political negotiations for the Danish defense sector and the support for the agreement across the political parties in the Danish Parliament.

With this agreement, a frame for the development of the Danish national defense for the coming four years has been set. This comparatively long period gives the Defense authorities and the private sector the possibility to engage in constructive cooperation about the material requirements for a modern defense with international reach. In Terma, we are ready to undertake these challenges.

In addition, we are pleased to see that the new defense agreement states that the Danish fighter aircraft competition will be restarted with down-select by the summer of 2015, and that there will be focus on investments in regards to the Arctic region.”